DTZ Group is exploring what would be a major commercial real estate deal. The London-based brokerage is considering a bid of $2 billion to acquire Cushman & Wakefield.
Both Cushman & Wakefield and DTZ operate several branches across the Midwest. The deal, then, could have significant implications for the Midwest’s commercial real estate industry.
To acquire Cushman & Wakefield, DTZ would have to raise an additional $1.3 billion in the Term Loan B market.
If the deal goes through, DTZ’s acquisition would create the second-largest property services firm in the world according to revenue figures. Only CBRE would rank higher.